Tag Archives: Property

Data published this week reveal Switzerland’s cantonal crime hotspot, a phenomenon connected to geography. Basel Police © Neydtstock | Dreamstime.comIn 2023, after a sharp rise, the canton of Basel-City recorded the largest number of violent crimes and the highest per capita rates of theft and burglary. The rate of violent crime reached 13.2 per 1,000 residents in the city in 2023. The number of property crimes, which includes theft and burglary rose to 21,329 in 2023, a figure 18%...

Across much of Europe, smoke detectors are a legal requirement. In Switzerland, they are not. The recent death of two people in a fire in Pfaffnau in the canton of Luzern has prompted calls to change the rules, reported SRF. © Andrey Popov | Dreamstime.comOn 19 March 2024, shortly after midnight, rescue workers were called to a burning apartment in Pfaffnau. Seven people were evacuated, three of whom were sent to hospital because of likely smoke inhalation. Two missing people were...

After two increases in a row the reference interest rate used for adjusting rents remains unchanged this quarter. Photo by Expect Best on Pexels.comAfter two rises from 1.25% to 1.75% last year, many tenants in Switzerland will be breathing a sigh of relief. Many economists forecast no increases in the rate this year. Every quarter the rate of interest used to set the rents in Switzerland is reviewed. If it goes down some renters have the right to request a decrease in rent. If it...

This week, the Federal Statistical Office (FSO) published the Swiss residential property price index for 2023, which showed an annual price increase of 2.2%, with a rise of 1.1% in the fourth quarter. Photo by PhotoMIX Company on Pexels.comThe average price of single-family homes rose by an average of 1.9% last year and the prices of apartments rose by an average of 2.4%. In the fourth quarter of 2023, both the prices of single-family homes (+0.5%) and those of apartments (+1.7%) were...

Rents have risen significantly in Switzerland, something potentially affecting the 61% of the population living in rented accommodation. A survey by Deloitte places rent control at the bottom of a list of solutions. Photo by ILOVESwitzerland on Pexels.comThe survey, which questioned 1,900 people across Switzerland, found rent controls to be the least preferred solution to dealing with rising rents – only 4% of those with an opinion chose this option. Cities such as Berlin have introduced...

Changes to Swiss law on renting recently passed by parliament have met with public resistance. This week, enough signatures were collected to trigger a vote aimed at overturning the work of parliament on rental law reform, according to RTS. Apartment Switzerland © mikechapazzo | Dreamstime.comThe two changes, which would make it easier for landlords to move into their own properties and require written approval to sublet, are viewed by some as a cynical move to weaken the hand of tenants....

On 1 December 2023, Switzerland’s Federal Housing Office announced the reference mortgage interest rate for rental agreements will rise from 1.50% to 1.75%. © Denis Linine | Dreamstime.comThe reference rate is mentioned in many Swiss tenancy agreements. If the rate goes up landlords can increase rents. If the rate goes down tenants can demand lower rent. The rate is based on the average mortgage interest rate. Essentially, total mortgage interest paid divided by the total outstanding...

The number of tenancy disputes in Switzerland jumped 42% in the first half of 2023 compared to the second half of 2022, reported the government this week. Photo by Alex Green on Pexels.comAcross Switzerland a total of 17,519 tenancy or lease arbitration proceedings were initiated between January and June 2023. The rising number of disputes follows rent hikes, often triggered by increases in Switzerland’s rent reference rate, a rate that tracks the average mortgage rate, a cost borne by...

Switzerland, where only 36% of the population own their homes, is sometimes referred to as a nation of renters. So when rents rise, as they have recently, the subject becomes political. On Wednesday, Switzerland’s Federal Council announced that it was looking for ways to temper short term rent increases. © Yiu Tung Lee | Dreamstime.comAcross Switzerland, 64% of the population was renting their homes in 2020. The percentage of people renting ranged from 85% in Basel-City to 42% in the...

The costs of mortgages and building maintenance are rising. Rents are following. In French-speaking Switzerland tenant arbitration organisations are receiving a deluge of complaints and requests for help from tenants, reported RTS. Copyright Akara Kittipadimakun | Dreamstime.comIn Switzerland, it is common for rental agreements to contain a clause that allows rents to be adjusted up or down based on a reference interest rate, which is calculated based on the average cost of mortgage...